USD/JPY Price Analysis: Greenback nearing April’s lows and 107.00 figure vs. Japanese yen

 

 

USD/JPY is trading below the main DMA (daily simple moving average) on the daily chart as the spot is nearing the April’s lows. 

 

 

 

USD/JPY is trading below the main SMAs on the four-hour chart suggesting a negative bias in the medium term. The spot is nearing the 107.00 figure near April’s lows. A break below the mentioned level could imply further losses towards the 106.00 or the 105.00 levels. Resistance can be seen near the 108.00 and 108.70 levels.